Category Archives: Practice Management

Yesterday, the Trump administration and congressional Republicans released their latest tax reform proposal, grandly titled a “Unified Framework for Fixing Our Broken Tax Code.” I’m not sure anyone doubts that the code is broken, but for various reasons I’m doubtful that this will be the solution. Still, your prospects and clients will have questions, and it will pay for you to learn enough about the proposal to discuss it intelligently. So, like it or not, here we are. Read more…

2017 is finally (finally!) here, and that means it’s time for self-improvement. Are you looking to lose weight? Exercise more? Quit smoking? And if so, is “right before tax season” a good time to start something like that? (As Lloyd Bridges says in the classic Airplane, “Looks like I picked the wrong week to quit sniffing glue.”

How about this year you pick a resolution to help build your business? Why not resolve to take control of your business on your terms rather than let yourself be pushed around or intimidated by clients? Read more…

Saturday afternoon, my girlfriend and I spent much of the day painting my daughter Margaret’s bedroom. (Apparently the bright green she picked when she was 10 years old was a little “robust” for her 16-year-old taste.) At one point, I ran out for another set of rollers and some more painters tape. My girlfriend asked me to pick up a Chick-fil-A sandwich for her on my way back. I said “sure,” and headed off to Target for supplies.

After I picked up the supplies, I pulled into the Chick-fil-A, and my heart sank. There was a long line of cars waiting at the drive-through. I knew that a line that long at the McDonalds down the street signaled a long wait, and I would be better off parking and going in to the store. Read more…

For years now, our Wednesday member call-ins and monthly TCU 999 classes have given TaxCoach members a place to pose your thorniest marketing, management, and even technical questions to a group of uniquely qualified peers across the country.

Now there’s a new resource that delivers that same access, 24/7. It’s the TaxCoach Clubhouse – an online forum for you to participate in the conversation whenever you like!Read more…

Everyone remembers where they were when Kennedy was shot. (For most of us, I suspect, the answer is “not born.”) But do you remember where were you at 4:34 on Monday afternoon? Tony “Loopholes” Amatore was pressing “Send” on the email below, and it’s well worth examining:

“Well, it’s 4:30pm eastern time tax day, April 18th. I have just finished my 32nd marathon or (tax season.) I’m just finishing up my two tax plans, my tax return and my updated FAFSA for both of my kids’ colleges.

As I sit here and reflect, this one ran pretty smooth, thanks to 2 college interns and a new admin, all new staffers.

For the first time as I sit here before heading home early, I ponder, is it time to retire (Florida maybe), slow down or keep on truckin’?

For the first time, thanks to all of you at Tax Coach, I have options. Ain’t life grand. Options.

Our hero of the week for April 14 is John Drawdy, of Woodstock, GA. John joined us for yesterday’s Member Call-In, and apologized for missing the previous week because he had been taking his family on a seven-day Disney cruise. (Not one of those dinky three-day cruises to the Bahamas, but seven glorious fun-filled days.) In “the season” – and not just “in” the season, but the first week of April!

People outside our business just assume that this time of year is a grind. And for some of us, it really is. But it doesn’t have to be that way. This year, more than ever, I’ve seen TaxCoach members all across the country taking control of their businesses in ways they never thought possible. Read more…

Slate is an online magazine covering current affairs, politics, and culture. This week, they published a fascinating piece that, frankly, said nothing about taxes, accounting, or financial planning. Yet it’s well worth a couple minutes of your time to think about the lessons it offers for your business.

Why Are Doctors’ Offices So Badly Run starts with the tale of Katherine White, a busy dermatologist, trying to manage a staff including a nurse, two medical assistants, two receptionists, and an esthetician, while seeing 40 patients per day. Her staff constantly bothers her with questions about billing, prescriptions, and lab refills, which the doctor feels compelled to fix herself.

December 15, 2015 is a big day. Yes, at that point there are just 9 more shopping days until Christmas. And yes, more important, there are just 16 more tax-planning days until December 31. But December 15 also marks the hundredth birthday of a skinny kid from Hoboken who grew up to became the greatest pop singer the world has ever known. I’m talking, of course, about Frank Sinatra. (Fellow Jersey native Bruce Springsteen may be “the Boss” – but Sinatra is the “Chairman of the Board!”)

I had the good fortune to see Ol’ Blue Eyes perform live in 1990, just as I was starting my third year of law school. He was slowing down by then. He ran through a short set of 15 of his greatest hits: You Make Me Feel So Young, Luck Be A Lady, Mack the Knife, and finishing with New York, New York. He seemed to have trouble with some of the lyrics. But it was still a very special event, and I knew that someday I would be fortunate to say I had seen him live. (Looks like today is my day!) Read more…

I keep saying that if you aren’t participating in our Wednesday Member Call-Ins, you’re missing one of the most valuable parts of your TaxCoach membership. But some discussions are just so valuable, they bear repeating here in the Briefs.

David Tuck, a former IRS agent and longtime member from Oregon, puts great stock in creating systems to manage and measure his business. Here’s a question he asked on yesterday’s call:

“What are the key performance indicators (KPI) that TaxCoach members need to focus on to be REALLY successful?”Read more…